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Distribution and Determinants of Housing Prices in Polycentric Mountainous Cities: The Case of Chongqing

In: Proceedings of the 19th International Symposium on Advancement of Construction Management and Real Estate

Author

Listed:
  • Meng-Wei Wang

    (Southwest University)

  • Yong Liu

    (Southwest University)

  • Xiu-Hua Liu

    (Southwest University)

Abstract

Based on 5410 sold residential projects, this paper used Kriging and the Geographically Weighted Regression (GWR) model to reveal the characteristics and determinants of housing prices in Chongqing. The results show that Chongqing’s housing prices formed a clear polycentric pattern: peaking at the major Central Business District (CBD) of Jiefangbei and sub-peaking at several Secondary Business Districts (SBDs). The pattern of housing prices was found to be influenced by accessibility of urban centers, urban facilities (such as schools, hospitals, metroline), Yangtze and Jialing rivers. Considering spatial non-stationary of housing prices, GWR model was further employed to reduce spatial dependency of data. The results of GWR model show that the more accessible to the nearest urban center is, the higher housing prices are; the nearer to rivers is, the higher housing prices are; the more proximity to metrolines, the higher housing prices are. To sum up, polycentric urban development is regarded as the underlying factors shaping housing prices in mountain Chongqing.

Suggested Citation

  • Meng-Wei Wang & Yong Liu & Xiu-Hua Liu, 2015. "Distribution and Determinants of Housing Prices in Polycentric Mountainous Cities: The Case of Chongqing," Springer Books, in: Liyin Shen & Kunhui Ye & Chao Mao (ed.), Proceedings of the 19th International Symposium on Advancement of Construction Management and Real Estate, edition 127, chapter 0, pages 879-889, Springer.
    • Handle: RePEc:spr:sprchp:978-3-662-46994-1_72
    DOI: 10.1007/978-3-662-46994-1_72
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